Last C$0.07 CAD
Change Today 0.00 / 0.00%
Volume 7.5K
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As of 11:17 AM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

dundee energy ltd (DEN) Snapshot

Open
C$0.06
Previous Close
C$0.07
Day High
C$0.07
Day Low
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52 Week High
04/4/14 - C$0.35
52 Week Low
12/23/14 - C$0.05
Market Cap
12.2M
Average Volume 10 Days
50.5K
EPS TTM
C$0.02
Shares Outstanding
188.2M
EX-Date
--
P/E TM
3.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for DUNDEE ENERGY LTD (DEN)

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dundee energy ltd (DEN) Details

Dundee Energy Limited, together with its subsidiaries, explores, develops, produces, and markets oil and natural gas in southern Ontario, Canada. The company owns a 95% working interest in 80,000 acres of onshore oil properties; and a 85% working interest in 695,000 gross acres of offshore gas properties located in Lake Erie in southern Ontario, as well as in other assets. It also holds a 24.6% interest in the Castor offshore underground natural gas storage facility in Spain. The company was formerly known as Eurogas Corporation and changed its name to Dundee Energy Limited in June 2011. Dundee Energy Limited was incorporated in 1983 and is headquartered in Toronto, Canada.

36 Employees
Last Reported Date: 03/17/14
Founded in 1983

dundee energy ltd (DEN) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$125.0K
Chief Financial Officer
Total Annual Compensation: --
President of Dundee Oil & Gas Limited
Total Annual Compensation: --
Vice President
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

dundee energy ltd (DEN) Key Developments

Dundee Energy Limited Reports Earnings and Production Results for the Third Quarter and Capital Expenditure for the Nine Months Ended September 30, 2014

Dundee Energy Limited reported earnings and production results for the third quarter and capital expenditure for the nine months ended September 30, 2014. For the quarter, net loss attributable to owners of the parent was $0.3 million, compared with a net loss attributable to owners of the parent of $1.5 million incurred during the same period of the prior year. Capital expenditures during the third quarter of 2014 were $2.5 million. Total sales were $10,114,000 compared to $11,015,000 a year ago. For the quarter, production volumes averaged 11,746 Mcf/d of natural gas and 535 bbls/d of oil and liquids compared to production volumes of 12,022 Mcf/d of natural gas and 608 bbls/d of oil and liquids during the third quarter of the prior year. Revenues before royalty interests, earned from oil and natural gas sales during the third quarter of 2014 were $10.1 million, a decrease from the $11.0 million of revenues earned during the third quarter of the prior year. The decrease in revenues resulted primarily from reduced production volumes and lower prices for oil and liquids partially offset by improved natural gas prices. Field netbacks during the third quarter of 2014, before realized amounts related to risk management contracts, were $1.53/Mcf (three months ended September 30, 2013 - $1.32/Mcf) from natural gas and $50.22/bbl (three months ended September 30, 2013 - $57.94/bbl) from oil and liquids. Total production expenditures were $4,443,000 compared to $4,636,000 a year ago. For the nine months, capital expenditures on onshore properties were $0.7 million, including $0.5 million in drilling costs.

Dundee Energy Limited Reports Production and Financial Results for Six Months Ended June 30, 2014

Dundee Energy Limited reported financial results for six months ended June 30, 2014. For the period, the company reported revenue of $22.142 million compared to $15.604 million a year ago. Net earnings before taxes attributable to the company was $2.868 million compared to net loss before taxes of $0.978 million a year ago. Net earnings before income taxes from was $4.123 million compared to net loss before income taxes of $1.65 million a year ago. The company expended $3.0 million on capital projects compared to $5.4 million six months ended June 30, 2013, including $0.7 million in drilling costs with the commencement of its drilling program in the second quarter of 2014. For the six months, Field level cash flows from natural gas, before realized amounts related to risk management contracts, increased to $8.7 million during the first half of 2014, compared with $2.8 million in the first half of the prior year. Dundee Energy realized an average price on sales of natural gas of $9.04/Mcf during the first half of 2014, more than two times the average price of $4.48/Mcf realized in the same period of the prior year. The increase is reflective of severe weather conditions experienced in Ontario from January to April 2014 and the high volatility in natural gas commodity prices at the Dawn Hub, a leading provider of natural gas supply to the greater Toronto market area. Resulting field netbacks were $5.49/Mcf in the six months ended June 30, 2014, compared with field netbacks of $1.75/Mcf realized in the same period of the prior year. Risk management contracts further reduced field netbacks by $0.24/Mcf in the first half of the prior year. Field level cash flows from oil and liquids, before realized amounts related to risk management contracts, increased to $6.9 million during the first half of 2014, compared with $6.4 million generated during the same period of the prior year, reflecting higher commodity prices partially offset by lower production volumes Field netbacks from oil production and sales were $62.59/bbl during the first half of 2014, compared with $53.01/bbl earned in the first half of the prior year. Risk management contracts reduced field level cash flows in the first half of 2014 by $0.2 million or $1.92/bbl. In comparison, Dundee Energys risk management strategies in the same period of the prior year added $0.4 million or $3.15/bbl to field level cash flows.

Dundee Energy Limited Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter Ended June 30, 2014; Provides Capital Expenditure Guidance for the Remainder of 2014; Provides Drilling Update

Dundee Energy Limited reported unaudited consolidated earnings and production results for the second quarter ended June 30, 2014. Net loss attributable to owners of the parent during the three months ended June 30, 2014 were $0.1 million, compared with a net loss attributable to owners of the parent of $0.5 million incurred during the same period of the prior year. Revenues, before royalty interests, earned from oil and natural gas sales during the second quarter of 2014 were $11.1 million, a substantial increase over the $9.7 million of revenues earned during the second quarter of the prior year. The increase in revenues resulted primarily from improvements in commodity prices, offset marginally by lower production volumes on oil and liquids. Capital expenditures during the second quarter of 2014 were $1.6 million. Field level cash flows was $5,633,000 against $4,454,000 a year ago. Production volumes during the second quarter of 2014 averaged 9,085 Mcf/d of natural gas and 652 bbls/d of oil and liquids, compared with production volumes of 8,770 Mcf/d of natural gas and 692 bbls/d of oil and liquids during the second quarter of the prior year. Field netbacks during the second quarter of 2014, before realized amounts related to risk management contracts, were $2.35/Mcf against three months ended June 30, 2013 - $1.64/Mcf from natural gas and $64.19/bbl against three months ended June 30, 2013 - $53.85/bbl from oil and liquids. During the second quarter of 2014, daily production volumes increased marginally to 2,166 boe/d, compared with an average of 2,154 boe/d in the same period of 2013. Average daily natural gas production increased by approximately 4% on a period-over-period basis. The increase is a result of the increased volumes from the acquisition of an additional 20% working interest in the southern Ontario assets, which the Corporation completed during the second half of the prior year, partially offset by the natural decline rate of the Corporation's assets. Oil and liquids daily production declined by 6% during the second quarter of 2014, compared with the same period of the prior year, also reflecting natural declines in the underlying assets. To date, the corporation has drilled one vertical well and one re-entry horizontal sidetrack well. While initial results are encouraging, further testing and analyses are required to determine flow rates and evaluation of the economic viability of each project. The remaining 2014 work programs will be modified as determined by the results of this test period. The corporation anticipates spending $4.2 million on the remainder of its 2014 work program. Approximately $3.3 million will be directed towards exploration and optimization of its oil fields in southern Ontario; a further $0.7 million will be directed towards the corporation's offshore natural gas assets; and, approximately $0.2 million will be incurred to acquire or maintain mineral rights for both producing and undeveloped properties.

 

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